As the broader market has risen to all-time highs so far in 2013, Coach (NYSE:TPR) stock has languished thanks largely to weak results from its core North American market.

More recently, and for the second quarter in a row, shares of Coach crumbled a few weeks ago after the company stated that overall sales fell 1% year over year, while earnings per share remained flat as a result of the company's share repurchase efforts.

Meanwhile, Coach competitor Michael Kors (NYSE:CPRI) just reported stellar quarterly sales growth of 38.9%, leaving Coach investors to wonder why they're sticking around.

But the Fool's Steve Symington thinks this year's lull represents a perfect opportunity for patient long-term investors to get in, and explains in the video below why he personally just added Coach stock to his own portfolio.

Please check out the video below to get Steve's full take, then let us know whether you think Coach stock is worth buying today.